Search Result for : Consumer Goods

The Dollar Business Bureau India's share in overall exports to top ten destinations globally rose to 51.6% in the last financial year of 2016-17, as compared to 49% in the fiscal of 2013-14, industry body PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.  The major export destinations of India include the US, Hong Kong, Japan, the UAE, China, the UK, Singapore and Germany.  The merchandise exports from the country to the US increased to $42.33 billion in 2016-17 from $39.14 billion in 2013-14, Gopal Jiwarajka, President, PHDCCI said in a statement.  Around 53% of exports to the US are primarily consumer goods, capital goods, intermediates and raw materials.  Similarly, the country’s exports to Hong Kong increased 11.2% to $14.2 billion in the last financial year.  “Going ahead, we are hopeful that our exports will touch $325 ...

By Ranjeet Mahtani & Niraj Hande The most crucial GST Council meeting took place on 18th and 19th May, 2017 in Srinagar, Jammu and Kashmir. The GST Council has finalised seven sets of GST Rules and completed the fitment of most goods and services in various tax brackets in the last two days. Rules The GST Council has approved seven sets of GST Rules which pertain to Composition, Tax Invoice Credit & Debit Notes,Input Tax Credit, Payment of Tax, Refund, Registration and Determination of Value of Supply. The Rules pertaining to Transition and Returns were not finalised and shall require further vetting before approval. The next step will be for Governments, State and Central to now notify these. Rates The GST Council has ...

Abin Daya the author of 'Basics of Trade: An India Perspective' is a FEMA expert, a career transaction banker, with close to 15 years of experience in corporate and transaction banking, in India. By Abin Daya Well, the effect of that abysmal performance of the core sector had to have some effect on the IIP. IIP numbers have come in at the lowest in 4 months with -1.2% growth. However, the coming months might give us some respite considering the improvement in economic activity during the month of March. And speaking of March, we have got a second consecutive month of double digit export growth during the month, and that has helped us pull off a positive growth in annual export figures after ...

The Dollar Business Bureau Industrial production dropped to a four-month low, declining 1.2% in the month of February, majorly due to the contraction in the manufacturing sector and lower offtake of consumer as well as capital goods. The Index of Industrial Production (IIP) had recorded 1.99% growth in the month of February last year. For the period April-February 2016-17, IIP growth was almost flat at 0.4% compared to 2.6% in the same period a year ago. For the month of January, the Central Statistics Office (CSO) has revised the industrial output growth to 3.27% from 2.74% in the provisional data issued last month. The previous low was witnessed in the month of October last year when the IIP declined ...

The Dollar Business Bureau Industrial activity in India, the figures for which are still to be released, is likely to see an upward trend in the month of January as there is an improvement in the overall economic scenario since December, according to a report.  Industrial output declined to a 4-month low of 0.4% in December, mainly due to fall in the production of consumer goods and capital goods.  “The contraction in IIP (Index of Industrial Production) was partially due to base effects, but largely by production contraction was due to demonetisation, particularly in automobile output,” Kotak Institutional Equities said in its research note.  Since then, the scenario is expected to have improved and IIP growth should witness some uptick in the month of ...

The Dollar Business Bureau Witnessing a strong improvement, the growth in manufacturing sector reached a high of 13-month in August encouraged by expansion in new works and acceleration in production and buying levels, a survey said. Nikkei Manufacturing Purchasing Managers' Index (PMI) of India increased to 52.6 in the month of August against 51.8 in the previous month as the manufacturers in India enjoyed a strong progress in operating conditions in the past month. A reading of beyond 50 shows expansion. The PMI jumped due to a sharp improvement in inflows of new business which increased at the fastest speed since December 2014. The increase is led by consumer goods producers, however strong growth was also recorded in the capital and intermediate goods categories. “Manufacturing PMI ...

Source: PTI   India's growing middle class makes it an attractive market for foreign companies and the country's consumer spending is likely to more than double to US$ 2.4 trillion by 2018-19, said an Economist Intelligence Unit (EIU) study. According to EIU, the growing middle class offers potential for manufacturers and retailers. Moreover, rising income levels mean India's huge population of around 1.2 billion is becoming an increasingly important market for consumer goods, and this trend is likely to continue, it said. “Private consumption expenditure will rise from US$ 1 trillion in 2013/14 to US$ 2.4 trillion in 2018/19," the EIU report said, adding that a majority though would continue to be preoccupied with meeting their basic daily needs rather than follow ...